6209 S. Michigan Ave
- Desirable Unit Mix - Six (6) 3Bd/1.5Ba & One (1) 2bd/1Ba
- Spacious Units w/ Modern Kitchen & Baths
- All Individual Furnaces, Water Heaters, & In-Unit Laundry
- Newer Electric & Updated Copper Plumbing
Property Description
Kiser Group is pleased to exclusively present for purchase 6209 S. Michigan Ave., a 7-unit multifamily investment opportunity located in Chicago’s Washington Park neighborhood. The property is conveniently positioned near Washington Park, public transportation, major thoroughfares, and the University of Chicago, providing residents with easy access throughout the South Side and to Downtown Chicago. The location benefits from continued investment throughout the surrounding area and strong demand for quality rental housing. The property consists of seven (7) residential units (6- 3Bd/1.5Ba) (1- 2Bd/1Ba) and offers several attractive features for both residents and investors. Each unit is equipped with individual furnace and hot water systems, allowing tenants greater control over their utilities while reducing centralized mechanical responsibilities for ownership. The units also feature in-unit laundry, a highly desirable amenity that enhances the property’s appeal to prospective tenants. Offered at $1,000,000, the property delivers an attractive 11.06% in-place capitalization rate based on $110,576 in NOI, providing investors with strong cash flow from day one. Additional upside exists through continued operational and rental improvements, with pro forma NOI projected at $134,077 and a 13.41% pro forma capitalization rate. The combination of strong in-place returns and meaningful upside makes 6209 S. Michigan Ave. a compelling multifamily investment opportunity.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,000,000 |
| No. of Units: | 7 |
| Year Built: | 1913 |
| Lot Size: | 0.19 Acres |
| Opportunity Zone: | No |
| Price per unit: | $142,857 |
| Property Website | Click Here |
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